Heck Capital Advisors LLC Purchases New Shares in Meta Platforms, Inc. (NASDAQ:META)

Heck Capital Advisors LLC purchased a new stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,049 shares of the social networking company's stock, valued at approximately $1,785,000.

Several other large investors have also recently bought and sold shares of the stock. Millstone Evans Group LLC acquired a new stake in shares of Meta Platforms in the fourth quarter valued at approximately $40,000. WealthTrak Capital Management LLC bought a new position in shares of Meta Platforms during the fourth quarter worth approximately $43,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of Meta Platforms during the fourth quarter worth approximately $45,000. Stuart Chaussee & Associates Inc. bought a new position in shares of Meta Platforms during the fourth quarter worth approximately $47,000. Finally, Conquis Financial LLC bought a new position in Meta Platforms during the 4th quarter worth $59,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have commented on META. Raymond James lowered their price objective on Meta Platforms from $800.00 to $750.00 and set a "strong-buy" rating on the stock in a research note on Thursday, May 1st. Mizuho lifted their price target on Meta Platforms from $675.00 to $750.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. JMP Securities reiterated a "market outperform" rating and issued a $750.00 price target on shares of Meta Platforms in a research note on Wednesday, April 30th. Rosenblatt Securities lifted their price target on Meta Platforms from $846.00 to $918.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Finally, Pivotal Research decreased their price target on Meta Platforms from $875.00 to $830.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $701.05.

Insiders Place Their Bets

In other news, CFO Susan J. Li sold 6,874 shares of the stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $659.36, for a total value of $4,532,440.64. Following the sale, the chief financial officer now owns 70,040 shares in the company, valued at $46,181,574.40. This represents a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jennifer Newstead sold 519 shares of the stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $635.50, for a total transaction of $329,824.50. Following the completion of the sale, the insider now owns 30,740 shares in the company, valued at $19,535,270. The trade was a 1.66% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 55,628 shares of company stock valued at $34,826,386. Insiders own 13.61% of the company's stock.

Meta Platforms Stock Up 0.1%

NASDAQ:META traded up $0.77 during midday trading on Thursday, reaching $644.35. 5,643,457 shares of the stock traded hands, compared to its average volume of 14,435,939. Meta Platforms, Inc. has a 12-month low of $442.65 and a 12-month high of $740.91. The business has a 50-day moving average of $577.74 and a two-hundred day moving average of $610.01. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. The stock has a market capitalization of $1.62 trillion, a PE ratio of 26.96, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.33 by $1.10. The business had revenue of $42.31 billion during the quarter, compared to analysts' expectations of $41.45 billion. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. The business's quarterly revenue was up 16.1% on a year-over-year basis. During the same quarter last year, the company posted $4.71 earnings per share. On average, equities analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

About Meta Platforms

Meta Platforms, Inc engages in the development of products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and wearables worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment offers Facebook, which enables people to share, discuss, discover, and connect with interests; Instagram, a community for sharing photos, videos, and private messages, as well as feed, stories, reels, video, live, and shops; Messenger, a messaging application for people to connect with friends, family, communities, and businesses across platforms and devices through text, audio, and video calls; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.